Qube Holdings Limited - s.87B undertaking

Company or individual details

  • Qube Holdings Limited
    149 723 053

Undertaking

On 22 December 2017 the ACCC accepted an undertaking (the Undertaking) from Qube Holdings Limited (Qube) in relation to the acquisition of Maritime Container Services Pty Ltd (MCS) by a subsidiary of Qube (the Acquisition). 

Qube is an ASX listed company that provides import and export logistics services in Australia. MCS is a New South Wales based business involved in the provision of import and export container services in Sydney, including the operation of empty container parks in Cooks River and Banksmeadow and road transport.

On 19 December 2017 Qube notified the ACCC of the Acquisition and advised the ACCC of its intention to complete the Acquisition on 21 December 2017.

On 20 December 2017 the ACCC notified Qube that the ACCC proposes to undertake a merger review of the Acquisition. 

The objective of the Undertaking is to keep the MCS business separate from Qube’s existing operations and managed and maintained as a going concern while the ACCC conducts its merger review. 

The Undertaking aims to achieve this objective by placing obligations on Qube to:

  1. hold its interest in the MCS business separate from Qube’s other assets and businesses pending completion of the ACCC’s review
  2. ensure the MCS business continues to be a viable, effective, stand-alone and independent business during the ACCC’s review
  3. appoint Approved Managers with principal responsibility and control over the management and operations of the MCS business
  4. protect confidential information of the MCS business, and
  5. provide for the effective oversight of Qube’s compliance with this Undertaking.